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, the cloud, the smartphone, the tablet, fracing, 3-d printing. all these new technologies are still throwing off productivity, and i believe productivity larry is what gives us the profits. >> right. >> in other words, productivity. >> cost control. >> cost control and productivity, absolutely right. >> all right. another point. i'm going to put a chart up on the full screen, i home. commodities are slumping a bit, and so are long-term interest rates. it's actually trading in a range, but a lot of people worry about rising interest rates. why they worry about that, i don't know, but they are. this chart suggests that with commodities slump, we have no fears of rising interest rates, and, therefore, we ought to just take that right off the map. >> yeah. i think gold was overvalued at 1,700, 1,800. still overvalued at $1,400 an ounce. i personally believe gold is appropriately valued at about 800 bucks. its decline does not mean the economy is going back into recession. there's some people that believe that, but we're still the plow horse economy. that's the phrase we've used. it's not a race
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